Petrol, diesel prices today: The oil marketing companies (OMCs) for the third straight day on Tuesday raised petrol and diesel prices.
Petrol, diesel prices today: The oil marketing companies (OMCs) on Tuesday raised petrol and diesel prices for the third straight day. While diesel can be purchased for Rs 69.61 per litre today in the national capital today, petrol is available at Rs 78.05 per litre. The revised rates are applicable from 6 am on August 28, 2018.
Petrol is retailling at a price of Rs 85.47 per litre in Mumbai, Rs 80.98 per litre in Kolkata and Rs 81.09 per litre in Chennai today. Diesel is available for Rs 73.90 per litre in Mumbai, Rs 72.46 per litre in Kolkata and Rs 73.54 per litre in Chennai, Indian Oil Corporation Limited (IOCL) app showed.
The recent rise in fuel prices is majorly due to rise in global crude oil prices and high excise duty levied on transportation fuel in the country. The prices of fuel in Delhi are the cheapest among all the metro cities and most of the state capitals due to lower sales tax or VAT (Value Added Tax). The Value Added Tax (VAT) on petrol is the highest in Mumbai at 39.12 percent.
On Tuesday, prices of oil plunged weighed down by gradually rising output from producer club OPEC but supported by supply risks from places such as Venezuela, Africa and Iran.
International Brent crude oil futures were at $76.14 per barrel at 0625 GMT, down 7 cents from their last close. The US West Texas Intermediate (WTI) crude futures were down 11 cents at $68.76 per barrel today. Traders said markets were range-bound, hemmed in by conflicting price signals.